Historic Storefront with Original
For Sale
$299,000
4011 ST CLAUDE Avenue, New Orleans, LA 70117
Commercial, New Orleans, LA
Property Size1,858 SF
Price / SF$160.93
Days on Market58
Property Features for 4011 ST CLAUDE Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HMC-2
Lot features
Regular
Standard status
Active
APN
4011-STCLAUDEAV
Size
1,858 SF
Taxes and HOA fees
Tax Description
1. SQ 411 LOT 3 2. 29X117 3. 4011-11HF ST CLAUDE AVE
Legal Description
1. SQ 411 LOT 3 2. 29X117 3. 4011-11HF ST CLAUDE AVE
Utilities
Water source
Public
Amenities
original mural
Building Details
Year built
1936
Floors in Building
1
Listing Agency:
Keller Williams Realty New Orleans
(504) 862-0100
Listed By:
James Howell · License #000033645
(504) 982-5921
Added: Jul 13
Changed: Sep 6
Last Checked: Sep 8 at 7:06PM
MLS# 2561794
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1936, this 1,858-square-foot storefront property offers a flexible commercial footprint along St. Claude Avenue in New Orleans. The spaces have historically been leased separately, supporting both an owner-user configuration and an investment-oriented setup. Public water service is in place, and the property is zoned HMC-2 within the Historic Marigny/Treme/Bywater Commercial District.
The site is positioned in the St. Claude Avenue corridor, an area associated with neighborhood businesses, restaurants, galleries, entertainment venues, and creative enterprises. A large original mural depicting Mardi Gras Indian Queen Tahj adds a distinctive visual element to the frontage. The property can accommodate concepts including retail, office, studio, gallery, boutique services, restaurant, or tattoo parlor uses, subject to applicable requirements.
The site is positioned in the St. Claude Avenue corridor, an area associated with neighborhood businesses, restaurants, galleries, entertainment venues, and creative enterprises. A large original mural depicting Mardi Gras Indian Queen Tahj adds a distinctive visual element to the frontage. The property can accommodate concepts including retail, office, studio, gallery, boutique services, restaurant, or tattoo parlor uses, subject to applicable requirements.
Key Highlights
- 1,858‑square‑foot storefront property
- Built in 1936
- HMC‑2 zoning in the Historic Marigny/Treme/Bywater Commercial District
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,943
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.67%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$458,860
$458.9K
Cap Rate 7%
$327,757
$327.8K
Cap Rate 9%
$254,922
$254.9K
Market Conditions
NOI Build-Up for 1,858 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$33.4K $18.00/SF
− Vacancy
−$669 −$0.36/SF
EGI
$32.8K $17.64/SF
− OpEx
−$9.8K −$5.29/SF
NOI
$22.9K $12.35/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$458,860
Cap Rate 7%
$327,757
Cap Rate 9%
$254,922
Alternative Uses
Best Use
Retail
$327.8K
$286.8K – $382.4K
NOI $22,943 @ 7.0% cap · market cap 7.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$472.2K
$413.2K – $551.0K
NOI $33,057 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
819
Businesses Nearby
17k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 69%
Dining 31%
Dollar General
Shops & Services
11,739 visits/mo
0.2 miles
Church's Chicken
Dining
5,337 visits/mo
0.2 miles
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
Median Home Value
Market
Vacancy Rate% for Retail in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - HMC-2-zoned storefront with flexible space for retail, office, studio, gallery, or other commercial uses.
Where is this storefront property located?
The property is located at 4011 ST CLAUDE Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,858‑square‑foot storefront property; Built in 1936; HMC‑2 zoning in the Historic Marigny/Treme/Bywater Commercial District
